What are Deposit, Withdrawal and Internal Transaction?

Think of Cwallet as your financial hub. To manage your assets, you need to understand how funds move in and out of this hub compared to how they move within it.

Deposit vs. Withdrawal:

These two actions connect your Cwallet account to the outside world (external wallet, exchanges, or other platforms).

• Deposit: This is the process of receiving assets from an external source into Cwallet.

• Withdrawal: This is the process of sending assets from Cwallet to an external destination.

Internal Transaction:

Internal transactions allow you to send funds to any other Cwallet user with:

• Zero Fees: We charge absolutely nothing for internal transfers.

• Instantly: No block confirmations, no waiting. The funds arrive the moment you confirm.

• No 'Chain' Anxiety: Forget about choosing networks. For internal transfers, networks don't matter, you just need to pick the correct cryptocurrency.

The Critical Difference Between Deposit, Withdrawal, and Internal Transaction:

While all of them involve moving funds, deposit/withdrawal operate differently from internal transactions.

• On-Chain (Deposit & Withdrawals): These transactions interact directly with blockchain. Because they occur 'on-chain,' they require network confirmations, and it may incur gas fees, and demand strict attention to network (chain) selection.

• Off-Chain (Internal Transactions): This kind of transaction happens exclusively within the Cwallet ecosystem. Because they settle on our internal system, they are instant, fee-free. And chain-independent.